PITTSBURGH, PA (July 1, 2020) Pittsburgh and 16 other cities cosponsored a policy adopted by the U.S. Conference of Mayors yesterday that urges cities across the globe to explore divesting from fossil fuels and invest in climate solutions to support a green recovery and a just transition.
Last summer, Mayor William Peduto asked Pittsburgh’s Comprehensive Municipal Pension Board to divest the City’s pension funds from fossil fuel industries and in February the board named a subcommittee to study divestiture.
The policy drive was led by New York City leaders. Officials from New York government, C40 Cities and the Heartland Capital Strategies plan to brief the Pittsburgh pension board’s solicitor on the new USCOM policy before the board’s next quarterly meeting in September. Mayor Peduto is a member of the Climate Mayors Steering Committee, a group of 24 mayors serving to support climate action across the United States.
Other cities serving as cosponsors of the USCOM resolution were: New York; Berkeley, CA; San Jose, CA; Davie, FL; Gainesville, FL; Orlando, FL; St. Petersburg, FL; Honolulu, HI; New Orleans, LA; Beverly, MA; Framingham, MA; New Bedford, MA; Durham, NC; Albuquerque, NM; Portland, OR; and Columbia, SC.
The text of the USCOM resolution is below:
Supporting a Global Cities-Led Movement to Divest from Fossil Fuels and Invest in Climate Solutions
the COVID-19 pandemic has quickly and drastically altered our collective health, wellbeing, safety, and economic security; and
given the scale of the pandemic’s impact, cities must take new and bold action to accelerate an economic recovery that recognizes our looming climate crisis and the threats to public health and well-being that it will cause; and
this pandemic has exposed long-standing disparities in our society, much like how the climate crisis will produce greater impacts on frontline communities in disparate ways; and
we as mayors can choose to emerge stronger and more resilient from this crisis with a green recovery that prioritizes clean energy infrastructure, job creation, and environmental justice; and
a green recovery can put cities at the forefront of ending the age of fossil fuels and pursuing a just transition to a clean energy economy by divesting their investments from fossil fuels and investing in climate solutions like clean energy, resilient infrastructure, energy efficiency, and a just transition; and
as we consider how to rebuild our economy from the pandemic, we must achieve a massive transformation that rebuilds lives, promotes equality and prevents the next economic, health or climate crisis; and
divesting from fossil fuels is not only the right thing for the planet but can also deliver better financial returns and underscores the opportunities to better manage and reduce environment and climate-related risks for our cities and pension funds and build more resilient, sustainable cities that grow the green economy and jobs, create better public health outcomes, address environmental injustices, and drive equitable development while reducing the harmful effects and risks of climate disaster; and
mayors across the country have already begun to divest from fossil fuels and invest in climate solutions, demonstrating the impact of strong political will and financial foresight; and
mayors can demonstrate climate leadership by making a commitment to divest from fossil fuels and invest in climate solution, and by calling on other investors, endowments, and foundations to follow suit;
THEREFORE, BE IT RESOLVED
that the United States Conference of Mayors strongly urges cities across the globe to explore divesting from fossil fuels and investing in climate solutions to support a green recovery and a just transition.
Tonight, the City-County Building is illuminated to recognize Poison Prevention Week and the 50th Anniversary of "Mr. Yuk" in partnership with Children's Hospital of Pittsburgh of UPMC.
For questions about the lighting at the City-County Building, please reach out to the Office of the Mayor.